Business News of 2014-03-13

US$80m shopping mall for Mallam

BG International, an American-based development firm, has announced that it will soon begin the construction of a shopping mall at Mallam Junction in Accra.

The project, which is expected to begin in June, this year, will cost $80 million. It will cover about 23,000 square meters of space in its initial phase and expected to be completed in 2016.

Shoprite, the largest grocer in Africa, operating more than 1,900 stores in 16 countries, will be an anchor of the Mallam Junction Mall. Irwin Barkan, Chief Executive of BGI, said the decision to bring some of the renowned global brands to Ghana in a premier retailing environment was due to the dramatic growth of the consumer class in Ghana.

“Ghana’s growth in gross domestic product (GDP) rivals any country in the world and its citizens want to enjoy the benefits of modern retailing,” he said. Barkan said the project will employ more than 800 people during construction and over 1,000 full and part-time permanent jobs created upon completion, adding that “the project will also include significant public roadway and utility infrastructure improvements.”

He said the project will result in the flow of a sizable Foreign Direct Investment (FDI) into the country and yield significant tax revenues when completed. “We expect that the mall will dominate the Western metropolitan Accra market with its convenient highway location and regional access,” he said.

The project will be carried out by DDG, award winning architectural firm based in the US in conjunction with Design Network Architects of Accra, Ghana. “We believe that our project will positively enhance the lives of the Gbawe Family as well as the people living in the Ga traditional area and the other nearby districts in Accra,” Daniel Rose, Chairman of BGI said.

Source: Daily Guide
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